Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 ended nearly 1 per cent higher on Thursday, a day of weekly F&O expiry. BSE Sensex jumped 515 points or 0.9 per cent to end at 59,333, while NSE Nifty 50 gained 124 points or 0.7 per cent to settle at 17,659. Stocks of Axis Bank, Bajaj Finance, HDFC, Tech Mahindra, Wipro, State Bank of India (SBI), ICICI Bank among others were top index gainers. On the flip side, ITC, NTPC, HUL, Maruti, Bharti Airtel stocks capped the gains in the index.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
BSE Sensex jumped 515 points or 0.9 per cent to end at 59,333, while NSE Nifty 50 gained 124 points or 0.7 per cent to settle at 17,659.
Stock exchange clearing houses mark settlement holiday on Tuesday, 16 August 2022, on account of Parsi New Year. On settlement holiday, trading in equity markets takes place as usual, but clearing and settlement remain shut for Payin and Payout of stocks and funds. It may be noted that the trading holiday is different from the settlement holiday: in the case of the former, stock markets remain closed and no trading takes place. Next week, Indian stock markets will observe a trading holiday too on Monday, 15 August 2022, on account of the Independence Day. Read full story
We maintain BUY on Eicher Motors as we anticipate (1) volume growth from new product launches (2) rising exports volume from channel expansion and market share gains and (3) margin expansion as operating leverage kicks in (we build in ~380bps EBITDAM expansion over FY22-24E). We increase our EPS estimates by 2/5% for FY23/24 and assign a revised SoTP based TP of Rs 3,400 (at 28x FY24E EPS for standalone business vs 27x earlier to factor in positive outlook and 18x for VECV). Mansi Lall – Research Associate at Prabhudas Lilladher
SAIL reported a dismal volume performance during the quarter under review, with EBITDA aided by higher realisation. Further, while steel production stood at 4.08mn tonnes, sales at 3.15mn led to huge inventory built up entering into a seasonally slow 2QFY23. However, going forward, we believe that the company is well positioned to continue benefiting from stable spreads over the next few years. Capacity expansion is nearing completion, resulting in volume growth. Also, we expect balance sheet deleveraging to continue, with net debt slated to reduce further from Rs173bn in FY22. Reliance Securities
Tracking strong cues from Wall Street, the Nifty has advanced today to its highest level since April. The bullish momentum remains powerful, but the index has now approached a confluence of resistance near 17800. This includes a trend line resistance drawn connecting the peaks from the record high as well as the 161.8% retracement of the June sell-off. Given the magnitude of the rally over the last few weeks, one must take a cautious stance on the Nifty until 17800 is not surpassed. That said, if 17800 is surpassed, the rally is likely to extend towards 18100 in the days ahead. Abhishek Chinchalkar, Head of Education, FYERS
BSE Sensex and NSE Nifty 50 were trading one per cent higher on Thursday, a day of weekly F&O expiry. BSE Sensex rose to a day’s high of 59,484.99, and fell to day’s low of 59,280. NSE Nifty hit a day’s high of 17,719, and a low of 17,644.45 apiece. So far in the trade, ICICI Bank stock hit a fresh 52-week high of Rs 866.15 apiece, surpassing the previous high of Rs 859.70 apiece touched in October last year. While no stock on S&P BSE Sensex hit a fresh 52-week low so far. Read full story
All digital loans must be disbursed and repaid through bank accounts of regulated entities only, without pass-through of loan service providers (LSPs) or other third parties, the Reserve Bank of India (RBI) said in its long-awaited guidelines for the segment, released on Wednesday. Read full story
Go Fashion (India) Ltd, which owns women’s wear brand Go Colors, was pushing ahead with its plan to strengthen foot print across geographies by adding about 120-130 stores ever year, a company official said on Thursday. The company, which owns approximately eight per cent in the branded women’s bottom-wear market, declared its financial results with profit after tax for the April-June quarter at Rs 24.4 crore. Read full story
Discount broker Zerodha's customers faced difficulties with the app on Thursday morning. A company spokesperson said the price was not ticking for a few customers, and the issue has been fixed now. Some of the affected customers took to social media to complain about the app not working early into trade and shared screenshots of the troubles. (PTI)
Gold prices were trading weak in India on Thursday, mirroring the global trends. On Multi Commodity Exchange, gold October futures were ruling Rs 160 or 0.3 per cent down at Rs 52,081 per 10 gram, as against the previous close of Rs 52,241. Silver September futures were down Rs 404 or 0.7 per cent to Rs 58,556 per kg. Globally, yellow metal prices fell as the U.S. dollar and Treasury yields rebounded after comments from Federal Reserve officials pointed to aggressive interest rate hikes despite signs of slowing inflation in the world’s largest economy. Read full story
Tech Mahindra, Wipro, IndusInd Bank, ICICI Bank, Tata Consultancy Services (TCS), Infosys, HCL Tech, Titan Company, Bajaj Finance were among top S&P BSE Sensex gainers.
Sensex jumped over 600 points or 1 per cent to 59,320, while NSE Nifty 50 soared 170 points or 1 per cent to 17720
On Option front, Maximum Call OI is at 18000 then 17500 strike while Maximum Put OI is at 16500 then 17000 strike. Marginal Call writing is seen at 17500 then 17800 strike while Put writing is seen at 17500 then 17400 strike. Option data suggests an immediate trading range between 17300 to 17700 zones while a broader trading range in between 17000 to 18000 zones. Read full story
The lackluster type movement continued in the market on Wednesday and NSE Nifty 50 index closed the day higher by 9 points. After opening with a positive note, the market was not able to sustain the morning gains soon after the opening and it slipped into weakness in the early part of the session. It later shifted into a minor upside recovery with narrow range movement, which continued for the rest of the session. A small negative candle was formed on the daily chart with minor lower shadow. This market action signals an inability of bulls to show follow-through up move above 17500 levels post upside breakout of small range on Monday. Read full story
On the domestic front, the USDINR pair is in a tussle between reality and sentiments to find its right course. On one hand, not-so-good fundaments globally and domestically are pushing the USDINR pair higher, whereas, on the other hand, the pair is pulled by foreign inflows and RBI’s intervention. The pair have entered into a consolidation phase with volatility witnessed in both directions, 80.10 would remain a strong resistance and 78.80 remains strong support for the pair. Until the pair is able to convincingly break on either side, upticks above 79.80 can be taken for selling and dips below 79.00 can be utilized for buying. Amit Pabari, managing director, CR Forex Advisors
BSE Sensex and NSE Nifty 50 likely to jump on Thursday, a day of weekly F&O expiry, following the better-than-expected US inflation data. SGX Nifty 50 Index Futures for August were trading at 17,747, up 200.50 points or 1.14 per cent up on Singaporean Exchange in early trade. Asian peers were also seen trading higher on Thursday. Technical analysts say that though, Nifty placed at the highs, the short term uptrend status remains intact and there is no signs of any reversal pattern unfolding at the higher levels. Read full story
U.S. CPI and particularly Core CPI reading came in below than expectations ignitting stocks to move higher and DXY to move lower. The probability of a 75 bps hike dwindled after the data. Fed's Evans and Kashkari continue their hawkish stance. Positive FII equity inflows and lower Brent crude prices continue to remain positive for rupee. For USDINR, 78.75/80 acts as a base while 79.42 a resistance. Kunal Sodhani, VP, Global Trading Center, Shinhan Bank
In overnight trade on Wall Street, the Dow Jones Industrial Average ended up 535.1 points, or 1.63%, at 33,309.51 while the S&P 500 rose 87.77 points, or 2.13%, to 4,210.24 and the Nasdaq Composite added 360.88 points, or 2.89%, to finish at 12,854.81
Asian stock markets were seen trading higher in early trade on Thursday following a better-than-expected inflation report in the U.S. which sent stocks spiraling higher. Australia’s S&P/ASX 200 rose 0.97%. The Kospi in South Korea was 1.32% higher and the Kosdaq jumped 1.31%. Japan’s market is closed for a holiday Thursday.
SGX Nifty 50 Index Futures for August were ruling 200.50 points or1.14 per cent up at 17,747 on Singaporean Exchange.
US inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates. The consumer price index increased 8.5% from a year earlier, cooling from the 9.1% June advance that was the largest in four decades, Labor Department data showed Wednesday. Prices were unchanged from the prior month. Read full story